Dropbox Has Bought Mobile Coupon Startup Endorse

It was only a month ago, when Endorse shut down its app. In recent news, Dropbox has acquired the mobile coupon startup, which lets users to earn cash back after buying products from particular brands. The two companies have not disclosed the financial details about the acquisition.

Founded in November 2010, Endorse had managed to rise $4.25 million in funding from Accel Partners and SV Angel in early 2012. The company first launched it's web version of the app, before moving to the mobile platform. Endorse on June 19, 2013, announced in it's blog post that it will be shutting down it's services.

The company wrote "In order to make your transition as easy as possible, you will have until 6PM PT on Sunday, June 30, 2013 to transfer your Endorse cash to your bank account and redeem your points balances. Please be aware that after June 30, 2013, you will not be able to access your account, contact customer service, or claim your cash balance".

According to the report by techcrunch, endorse had over a dozen employees, who will all be joining the Dropbox team. However, no details about these has officially been disclosed by the company. A spokesperson for Dropbox in a statement said "Dropbox has acquired Endorse, and we're excited to have their top-notch talent join the Dropbox team."

Endorse in it's blog post wrote "We have known and long-admired the Dropbox team for years. Dropbox has that rare combination of talent, teamwork, and vision. We are joining an incredible team with ambitious goals and lots of difficult and exciting technical and business challenges ahead, and we could not be more pleased to have the opportunity be a part of the journey".